Common use of AMENDMENT OF INSURANCE REQUIREMENTS; UNAVAILABILITY OF INSURANCE Clause in Contracts

AMENDMENT OF INSURANCE REQUIREMENTS; UNAVAILABILITY OF INSURANCE. If any insurance required to be maintained by the Lessee pursuant to this Schedule 1 (including the limits or deductibles or any other terms under policies for such insurance) ceases to be available on a commercially reasonable basis, the Lessee shall provide written notice to the Owner Lessor, the Equity Investor and, so long as the Lien of the Indenture has not been terminated and fully discharged, the Indenture Trustee, which written notice shall be accompanied by a letter from the Lessee's insurance broker stating that such insurance is unavailable on a commercially reasonable basis and explaining in detail the basis for such conclusions. Such notice shall be given not less than thirty (30) days' prior to the scheduled date for renewal of any such policy. In the event that a resolution acceptable to both parties cannot be reached, within ten (10) days, the parties shall make arrangements, at the Lessee's expense, for the formation of an insurance panel consisting of the Lessee's insurance advisor (or broker) and the Owner Lessor's and, so long as the Lien of the Indenture has not been terminated and fully discharged, the Indenture Trustee's insurance advisor (or broker), and an independent insurance expert from a internationally recognized insurance brokerage firm, chosen by the Lessee and reasonably acceptable to the Owner Lessor and, so long as the Lien of the Indenture has not been terminated and fully discharged, the Indenture Trustee. Such independent expert shall conduct a separate review of the relevant insurance requirements of this Schedule 1 and the market for such insurance at the time, giving due consideration to the representations of both insurance advisors, and upon conclusion of such review shall issue a written report stating whether such insurance is available or unavailable on a commercially reasonable basis and explaining in detail the basis for such conclusions. If the insurance expert concludes that such insurance is not available on a commercially reasonable basis, the insurance expert shall provide a written recommendation and certification (which shall include the amount and type of insurance which is available upon a commercially reasonable basis) not less than fifteen (15) days before the date for renewal of such insurance. The Lessee shall, prior to the expiration of the insurance then in effect, obtain such insurance recommended and certified by such insurance expert that is available on a commercially reasonable basis. The recommendation of the insurance expert shall be conclusive and binding upon the Lessee and the Owner Lessor and the Lessee shall, for so long as such insurance shall be unavailable on a commercially reasonable basis, be required to carry such insurance that the insurance expert has recommended and certified is available on a commercially reasonable basis; provided, however, that if any required insurance hereunder that had previously been unavailable on a commercially reasonable basis shall become available on a commercially reasonable basis, the Lessee shall obtain such required insurance as promptly as practicable after the Lessee has been given notice of such availability, so long as such insurance can be obtained without causing unreasonable (as determined by the insurance expert) cost inefficiencies or disruptions mid-term in the existing insurance programs. All reasonable fees, costs and expenses associated with the insurance panel (including the review by the insurance expert) shall be for the sole account of the Lessee. Schedule 1 to Project Lease INSURANCE PROVISIONS - PUNA

AMENDMENT OF INSURANCE REQUIREMENTS; UNAVAILABILITY OF INSURANCE. If any insurance required to be maintained by the Lessee pursuant to this Schedule 1 (including the limits or deductibles or any other terms under policies for such insurance) ceases to be available on a commercially reasonable basis, the Lessee shall provide written notice to the Owner Lessor, the Equity Investor and, so long as the Lien of the Indenture has not been terminated and fully discharged, the Indenture Trustee, which written notice shall be accompanied by a letter from the Lessee's insurance broker stating that such insurance is unavailable on a commercially reasonable basis and explaining in detail the basis for such conclusions. Such notice shall be given not less than thirty (30) days' prior to the scheduled date for renewal of any such policy. In the event that a resolution acceptable to both parties cannot be reached, within ten (10) days, the parties shall make arrangements, at the Lessee's expense, for the formation of an insurance panel consisting of the Lessee's insurance advisor (or broker) and the Owner Lessor's and, so long as the Lien of the Indenture has not been terminated and fully discharged, the Indenture Trustee's insurance advisor (or broker), and an independent insurance expert from a internationally recognized insurance brokerage firm, chosen by the Lessee and reasonably acceptable to the Owner Lessor and, so long as the Lien of the Indenture has not been terminated and fully discharged, the Indenture Trustee. Such independent expert shall conduct a separate review of the relevant insurance requirements of this Schedule 1 and the market for such insurance at the time, giving due consideration to the representations of both insurance advisors, and upon conclusion of such review shall issue a written report stating whether such insurance is available or unavailable on a commercially reasonable basis and explaining in detail the basis for such conclusions. If the insurance expert concludes that such insurance is not available on a commercially reasonable basis, the insurance expert shall provide a written recommendation and certification (which shall include the amount and type of insurance which is available upon a commercially reasonable basis) not less than fifteen (15) days before the date for renewal of such insurance. The Lessee shall, prior to the expiration of the insurance then in effect, obtain such insurance recommended and certified by such insurance expert that is available on a commercially reasonable basis. The recommendation of the insurance expert shall be conclusive and binding upon the Lessee and the Owner Lessor and the Lessee shall, for so long as such insurance shall be unavailable on a commercially reasonable basis, be required to carry such insurance that the insurance expert has recommended and certified is available on a commercially reasonable basis; provided, however, that if any required insurance hereunder that had previously been unavailable on a commercially reasonable basis shall become available on a commercially reasonable basis, the Lessee shall obtain such required insurance as promptly as practicable after the Lessee has been given notice of such availability, so long as such insurance can be obtained without causing unreasonable (as determined by the insurance expert) cost inefficiencies or disruptions mid-term in the existing insurance programs. All reasonable fees, costs and expenses associated with the insurance panel (including the review by the insurance expert) shall be for the sole account of the Lessee. Schedule 1 to Project Lease INSURANCE PROVISIONS - Exhibit A FORM OF PROJECT LEASE SUPPLEMENT NO. _ This PROJECT LEASE SUPPLEMENT NO. __, dated as of _________________, is between SE PUNA, L.L.C., a Delaware limited liability company (the "Owner Lessor"), and PUNA GEOTHERMAL VENTURE, a Hawaii general partnership (the "Lessee").